A Mortgage Broker registered
pursuant to Article 12-D of the Banking Law

(Respondent)

SETTLEMENT AGREEMENT

WHEREAS, Vintage Funding Incorporated (“Respondent”) is a registered mortgage broker in the State of New York; and

WHEREAS, pursuant to Section 597 of the Banking Law and Part 410.8(b) of the Superintendent’s Regulations, Respondent is required to annually file a report with the Superintendent giving such information as the Superintendent may require concerning the business and operations of Respondent during the preceding calendar year ; and

WHEREAS , on January 31, 2006, the Banking Department notified Respondent by mail to complete a Volume of Operations Report (“VOOR”) for the 2005 calendar and return it no later than April 17, 2006; and

WHEREAS, on May 8, 2006, the Banking Department notified Respondent by certified mail with return receipt requested that Respondent had failed to file a 2005 VOOR in violation of Section 597 of the Banking Law and Part 410.8(b) of the Superintendent’s Regulations; that the period to file the 2005 VOOR was extended to May 31, 2006; and that failure to file the 2005 VOOR by May 31, 2006 would result in (i) the levy of a fine against Respondent at the rate of $500 per day, for every day after May 31, 2006, that Respondent failed to submit the VOOR and (ii) suspension of Respondent’s broker registration and a hearing being scheduled for revocation; and

WHEREAS, the Banking Department received Respondent’s 2005 VOOR on October 12, 2006; and

WHEREAS, the Superintendent and Respondent mutually agree to resolve the aforementioned violation as stipulated below.

NOW, THEREFORE IT IS STIPULATED AND AGREED BY THE PARTIES HERETO AS FOLLOWS:

THAT, Respondent agrees as follows:

Respondent understands the terms and conditions of the Settlement Agreement, freely and voluntarily waives its right to a hearing on the charges made and any and all appeal relating to this matter.

Respondent will take all necessary steps to ensure compliance with all applicable laws and regulations.

Respondent agrees to the payment of a fine in the amount of $10,000, upon the execution of this Agreement via an electronic transfer, in immediately available funds, pursuant to transfer instructions received from the Banking Department.

All communication regarding this Settlement Agreement shall be sent to:

Rholda L. Ricketts
Deputy Superintendent of Banks
Mortgage Banking Department
New York State Banking Department
One State Street
New York , NY 10004

The provisions of this Settlement Agreement shall not bar, estop or otherwise prevent the Superintendent, or any state or federal agency or department, from taking any other action affecting Respondent, any of its current or former officers, directors, employees, or insiders, or their successors or assigns in connection with any matter relating to this Settlement Agreement. Nor shall this Agreement bar, estop or otherwise prevent the Superintendent from entering any other action affecting Respondent, any of its current or former officers, directors, employees, or insiders, or their successors or assigns in connection with any matters not covered by this Agreement.

No extension or waiver of the terms of this Settlement Agreement shall be binding on the Banking Department unless it is in writing and signed by the Superintendent.

Each provision of this Settlement Agreement shall remain effective and enforceable until stayed, modified, terminated or suspended in writing by the Superintendent.

The effective date of this Settlement Agreement is the date on which it is executed by the Superintendent or Deputy.